Another Way, Part 1
I remember attending a speech by the late Chief Justice of the Ohio Supreme Court, Tom Moyer, during which he discussed the basic function of lawyers and judges. He said, “We resolve disputes.”
He then went on to review the cost, delay and uncertainty of resolving disputes through litigation. He concluded, “There has to be another way.”
This month we are taking a look at one of the other ways to resolve disputes: arbitration. Next month we will look at another: mediation.
What is arbitration?
Simply, arbitration is a way to resolve a dispute by having one or more neutral persons decide the outcome. If the two sides cannot agree to one neutral, often each side will pick an arbitrator and the two arbitrators will then pick a third. Where there are three arbitrators, if two agree, the dispute is resolved.
Arbitration has the advantages of a shorter, cheaper way to resolve a dispute than litigation. I have seen and participated as an arbitrator in disputes ranging from business to real estate to family matters. Hiring lawyers to represent you in arbitration is optional.
Many businesses are now writing in arbitration clauses as a way to resolve disputes out of court. If you have questions about how arbitration or mediation can help you, please contact us.
Thomas D. White, Esq.